Bets on Google

Capping off another huge day in earnings news, Google posts after the market's close today.

Its shares are off more than a third this year, and this is shaping up as a definitive quarter for the world's best-known tech company.

Bottom line: Online advertising will either suffer under the weight of a slower economy or it won't, and the number of paid clicks will fail to live up to expectations, as comScore reports have suggested. Or it won't.

The consensus expectation is that Google will earn $4.52 a share on $3.61 billion in revenue.

Over at Silicon Alley Insider, Henry Blodget is handicapping and bets on an earnings win. His Friday-morning price target: a solid jump to $490 a share.

And not to let earnings hog the spotlight, the latest twist in the Yahoo/Microsoft/Google love triangle appeared today with Yahoo reportedly set to increase its advertising outsourcing relationship with Google. Details and links at Digital Daily.

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